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Nonprofiteer
← BIG SANDY RURAL ELECTRIC COOPERATIVE CORP

Form 990 for tax year 2022

Filed by BIG SANDY RURAL ELECTRIC COOPERATIVE CORP.

Totals

Total revenue
$30,032,172
Total expenses
$30,032,172
Contributions and grants received
$0
Grants paid
$9,000
Program service revenue
$28,907,463
Investment income
$304,649
Other revenue
$820,060
Total assets, end of year
$64,233,203
Total liabilities, end of year
$34,801,433
Net assets or fund balances, end of year
$29,431,770
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$30,032,172

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $28,907,463 · related or exempt $28,907,463

  • 3 · Investment income

    total $227,364 · excluded $227,364

  • 7a · Gross sales of assets other than inventory

    securities $77,285

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $77,285

  • 7d · Net gain or loss

    total $77,285 · related or exempt $77,285

  • 11a · Other revenue: JOINT USE POLE ATTACHMENT

    total $399,537 · excluded $399,537

  • 11b · Other revenue: G&T CAPITAL CREDITS

    total $323,975 · related or exempt $323,975

  • 11c · Other revenue: PATRONAGE CAPITAL CREDITS

    total $96,548 · related or exempt $96,548

  • 11e · Other revenue, total

    $820,060

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $9,000

  • 4 · Benefits paid to or for members

    total $423,920

  • 5 · Compensation of officers, directors and key employees

    total $175,503

  • 7 · Other salaries and wages

    total $2,966,004

  • 8 · Pension plan contributions

    total $286,033

  • 9 · Other employee benefits

    total $549,872

  • 10 · Payroll taxes

    total $977,732

  • 11b · Fees: legal

    total $12,542

  • 11c · Fees: accounting

    total $21,760

  • 13 · Office expenses

    total $66,048

  • 20 · Interest

    total $816,967

  • 22 · Depreciation, depletion and amortization

    total $2,521,208

  • 23 · Insurance

    total $199,129

  • 24a · Other expenses: COST OF POWER

    total $20,333,030

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $1,788,522

  • 24c · Other expenses: ADMINISTRATIVE AND GENE

    total $1,582,779

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $1,254,745

  • 24e · All other expenses

    total -$3,952,622

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,637,433 · end of year $990,751

  • 4 · Accounts receivable

    beginning of year $5,202,569 · end of year $5,669,294

  • 8 · Inventories for sale or use

    beginning of year $307,290 · end of year $474,246

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,632 · end of year $22,480

  • 10a · Land, buildings and equipment: cost or other basis

    $61,108,688

  • 10b · Land, buildings and equipment: accumulated depreciation

    $27,673,092

  • 10c · Land, buildings and equipment, net

    beginning of year $32,731,557 · end of year $33,435,596

  • 12 · Investments: other securities

    beginning of year $22,972,521 · end of year $22,636,887

  • 15 · Other assets

    beginning of year $15,561 · end of year $1,003,949

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,316,385 · end of year $2,881,210

  • 23 · Secured mortgages and notes payable

    beginning of year $25,431,847 · end of year $24,352,436

  • 25 · Other liabilities

    beginning of year $8,203,254 · end of year $7,567,787

  • 29 · Capital stock, trust principal or current funds

    beginning of year $225,765 · end of year $225,835

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$2,112,919 · end of year -$1,980,861

  • 31 · Retained earnings, endowment or other funds

    beginning of year $30,829,231 · end of year $31,186,796

Mission and programs · 2022

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,763 CONSUMERS MONTHLY.

Activities or mission (Part I)

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,800 CONSUMERS MONTHLY.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,763 CONSUMERS MONTHLY.

    Expenses $30,032,172 · Grants $9,000 · Revenue $29,405,271

As filed on the 2022 return.

Listed in Part VII

  • Danny Wallen

    CHAIRMAN

    Total calculated
    $31,022
    From this org
    $15,511
    From related orgs
    $0
    Other
    $15,511
    Hours/week
    4

  • Greg Davis

    VICE CHAIRMAN

    Total calculated
    $18,936
    From this org
    $9,468
    From related orgs
    $0
    Other
    $9,468
    Hours/week
    4

  • James Vanhoose

    SEC-TREAS

    Total calculated
    $18,292
    From this org
    $9,146
    From related orgs
    $0
    Other
    $9,146
    Hours/week
    4

  • Jimmie McKenzie

    DIRECTOR

    Total calculated
    $18,824
    From this org
    $9,412
    From related orgs
    $0
    Other
    $9,412
    Hours/week
    4

  • Gary Francis

    DIRECTOR

    Total calculated
    $28,150
    From this org
    $14,075
    From related orgs
    $0
    Other
    $14,075
    Hours/week
    4

  • Jason Holbrook

    DIRECTOR

    Total calculated
    $18,236
    From this org
    $9,118
    From related orgs
    $0
    Other
    $9,118
    Hours/week
    4

  • Velma May

    DIRECTOR

    Total calculated
    $17,430
    From this org
    $8,715
    From related orgs
    $0
    Other
    $8,715
    Hours/week
    4

  • Bruce A Davis

    PRESIDENT/CEO

    Total calculated
    $188,159
    From this org
    $121,923
    From related orgs
    $0
    Other
    $66,236
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,923
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $66,236
    Filer's total
    $188,159

  • Jeffery Prater

    VP OF OPERATIONS

    Total calculated
    $147,760
    From this org
    $99,081
    From related orgs
    $0
    Other
    $48,679
    Hours/week
    40

  • John Harrison

    SUPERVISOR

    Total calculated
    $182,296
    From this org
    $159,337
    From related orgs
    $0
    Other
    $22,959
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,337
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,959
    Filer's total
    $182,296

  • Donald Holbrook

    SUPERVISOR

    Total calculated
    $144,327
    From this org
    $131,458
    From related orgs
    $0
    Other
    $12,869
    Hours/week
    40

  • William Jarrell

    SUPERVISOR

    Total calculated
    $146,178
    From this org
    $122,741
    From related orgs
    $0
    Other
    $23,437
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
3 May 2023
IRS schema version
2022v5.0
Source object
202321359349314167

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